Top 10 Richest People In South Africa And Their Net Worth. Wealth is a crown and those who wear it, must be recognised as the kings of the society and be accorded the deserving respect that comes with the crown. But beyond that, it is not easy to get the crown
You would have to jump through hurdles, overcome quite a number of very unflattering obstacles and have a story to tell. But when you eventually get the crown, you can be sure that the world will be waiting to help you tell your story and there are very many ways to do that. Whats more, more South African billionaires and millionaires are springing up with each passing year.
So, it’s that time of the year again when you regale us with lists of the richest people around us, how they get their money and how much they are truly worth. It would surprise you to know that to make this list is not something that happens overnight, it takes the struggle of decades by the hardest working entrepreneurs and business people to appear in the list.
Over the years, several people who used to be on the list of the richest people in south Africa are no longer as lucky to be on it whereas others are climbing higher and higher each year.
Then of course there are those others who have longed for quite a while to be mentioned in the list and this time, some of them were quite lucky to be remembered. In this article, we’ve taken a look at Forbes list and have combined that with information from other sources such as Bloomberg and Ventures Africa to come up with a more comprehensive list of the richest men in South Africa, these are multi billionaires and multi millionaires, all figures are in US dollars
A lover of fast cars, vintage wine, trout fishing and game farming, Cyril Ramaphosa is the second richest black businessman in South Africa. He had always loved politics and was hoping to become Nelson Mandela’s vice president which never worked out.
He became the symbol of black capitalism in South Africa. Widely respected as a skilful and formidable negotiator and strategist, he acquired a stake in almost every key sector – from telecoms and the media to beverages and fast-food (he owns the South African franchise of the US fast food chain, McDonalds) and mining.
He is best known for building up the biggest and most powerful trade union in South Africa and with this great acumen, he translated his business to a successful empire. He is currently worth $675 million.
9. Desmond Sacco
Net Worth: $680 million ($ 1.7 billion)
Sacco took over the reins of Assore Group from his father Guido Sacco who founded it. For the first time, he managed to make it to the Forbes Billionaire list after the stocks of his company surged on the stock exchange.
Desmond studied Geology from university of South Africa and joined his father’s mining company. And like Patrice Motsepe, he is another mining magnate from this once British colony. Sacco is fond of playing Cricket and other sport of Hockey. He spends his spare time playing Hockey and sometimes Cricket.
8. Lauritz (Laurie) Dippenaar
Net Worth: $ 730 Million
Laurie Dippenaar is a qualified Chattered accountant who built a financial services empire over the last several decades. He co-founded Rand Consolidated Investing with GT Ferreira and Paul Harris in 1977.
After a series of mergers and acquisitions, FirstRand was formed in the 1990s; Dippenaar is non-executive chairman of FirstRand, which is active in banking and insurance and is active in South Africa, 5 other neighboring countries and India.
Laurie is a philanthropist and has endowed the Laurie scholarship fund offering $44,000 a year in scholarships in the post-graduate category for South Africans who have leadership potentials. Dippenaar’s hobbies include cycling, canoeing and watching rugby.
7. Motsepe Patrice
Net Worth: $2.1 Billion
Industry: Mining Patrice
Patrice Motsepe highlights what is still a problem on the African continent; systemic racism.
Motsepe still remains the only black billionaire in South Africa, a nation made up predominantly of black people but sees the majority of its wealth lay in the hands of whites.
Patrice is the founder and executive chairman of African Rainbow Minerals, which has interests in ferrous metals, base metals, gold and platinum.
Through his company, African Rainbow Minerals, Motsepe has become a self-made mining magnate, with interests in many different minerals helping to build his wealth, which has expanded into financial service companies and an ownership in a football club.
Concerned by the gross inequity within the South African economy, Motsepe joined Bill Gates and Warren Buffett in The Giving Pledge by agreeing to give away half his wealth to charitable causes.
He is married to Precious Moloi Motsepe, the head of the Motsepe Family Foundation and executive chairperson of African Fashion International, a body dedicated to promoting African and South African.
6. Stephen Saad.
Net worth: $2.5 Billion
Stephen Saad is one of the billionaires in South Africa. His net worth is currently at $2.1 billion which is a huge lift from the $1.7 billion calculated as his net worth last year.
He is considered as a shrewd business man and he has enormous experience in the pharmaceutical world. During his 20s, he started and ran a few small firms which were in pharmaceutical business. Of which, he sold his share in one of them for 3 million and became a millionaire overnight back in the late 1990s. later on, he founded Aspen Pharmacare, South Africa’s leading and publicly trading drug manufacturer on the Johannesburg Stock exchange.
Aspen stakes have risen throughout 2012 but he became a major billionaire when his company established ties with global pharmacy innovators that often see generic companies as rivals, hence GlaxoSmithKline is one of the largest shareholder in Aspen.
5. Koos Bekker
Net Worth: $2. 6 Billion
Bekker is one of the media tycoons that has a knack for spotting real talent and it has served him well. In April last year, Koos Bekker stepped down as chief executive of Naspers, the media juggernaut he has led since 1997. During his tenure, Naspers’ market capitalization grew from $600 million to $45 billion.
He drew no salary or benefits, instead collecting stock options that vested over time. He transformed the publisher into a new media powerhouse, with investments in China, India, Russia and elsewhere, including stakes in China’s Internet behemoth Tencent Holdings, Russian Internet giant Mail.ru and Brazilian magazine publisher Abril He invested in Mail.ru, a fast-growing Russian mail order company.
Naspers owns MWEB, South Africa’s second-largest internet service provider, magazine publisher, Media24, and OLX, a business classifieds company. He equally owns a 200-hectare farm, winery and luxury hotel in the northeast of Cape Town. He is expected to return to Naspers as chairman after a year off which will happen this April. He was a founding director of African mobile telecom firm MTN.
4. Christoffel Wiese
Net Worth: $5.4 Billion
Wiese studied Law at the university of Stellenbosch. After school, he took up a job as an executive director at Pep Stores, a discount clothing chain co-founded by his parents which later diversified by acquiring a small retail chain, Shoprite.
When Wiese became chairman of the company in 1981, he changed the company’s name to Pepkor and made a series of acquisitions including Ackermans, a prominent clothing chain.
Wiese holds a 44-percent stake in Pepkor and a 15-percent stake in Shoprite, which he listed on the Johannesburg Stock Exchange (JSE). While his Shoprite stake remains his most lucrative asset, he also owns significant stakes in other JSE-listed companies including Invicta Holdings, Mining Group, Pallinghurst Resources, Tradehold Ltd, Naspers, Digicore, and a 35-percent stake in the private equity firm, Brait. Other assets include Trans Hex Group and a private game reserve in the Kalahari. Today, Shoprite is Africa’s largest discount grocery retailer.
Wiese is the largest individual shareholder of Shoprite. It operates 453 grocery stores in South Africa and across Sub-Saharan Africa. Shoprite recently bet big on Nigeria and has plans to open 50 stores in the near term, with long-term plans for as many as 700 grocery outlets across the country.
2. Nicky Oppenheimer
Net Worth: $6.8 Billion
Industry: Mining (Diamonds)
Oppenheimer attended Harrow School in the UK and later obtained his bachelor’s and master’s degrees from Oxford University. Nicky is married to Orcilla Lasch and both are avid supporters of wildlife and conservation projects for which they have won numerous awards.
Oppenheimer owns Tswalu Kalahari Reserve, which is home to critically endangered animals such as the desert black rhino and the black-maned Kalahari lions.
In 1927 Oppenheimer’s grandfather Sir Ernest, took over De Beers, a company which was originally founded by Cecil John Rhodes in 1888, and consolidated the company’s global monopoly over the world’s diamond industry.
In 2011, E Oppenheimer & Sons, the family owned investment firm which Nicky controls, partnered with Temasek, the investment firm of the Government of Singapore, to form Tana Africa Capital, a $300-million private equity fund that invests in agriculture, education, fast-moving consumer goods (FMCG), and media.
Tana plans to take stakes of between 25 and 50 percent in targeted companies, investing between $40 million and $50 million per deal. In 2012, Nicky Oppenheimer sold his family’s 40-percent stake in De Beers, the world’s largest diamond producer, to mining behemoth Anglo-American for $5.1 billion in cash, making him the last Oppenheimer to serve as Chairman of De Beers. After cashing out of the diamond business, Nicky Oppenheimer moved on into investing.
He is an outspoken advocate for investments in Africa over aid. In 2005, he called on developed countries to invest more and assist with education and skills training over the long-term.
In the wake of Nicky’s sale of his stake in De Beers, the Oppenheimer family ended its 85-year reign atop the diamond giant. The sale ended eight decades of Oppenheimer control of De Beers. The huge cash inflo afforded Oppenheimer’s son Jonathan the freedom to pursue different business interests on behalf of the family.
1. Johann Rupert:
Net worth: $7.3 Billion
Johann Rupert is not just South Africa’s richest white man, he is the richest man in South Africa this year. Johann was raised in Stellenbosch in the western cape province of South Africa. He started his university education studying economics and law at the university of Stellenbosch and later had to drop out but the university later awarded him an honorary degree in economics. He is presently the Chancellor of the University.
Rupert is an avid golfer, cricketer and conservationist, he deservedly serves as the head of the South African PGA Tour and the South African Golf Development Board. He also founded the Franschhoek Motor Museum, which houses his personal collection of over 200 antique motor vehicles.
After a one-year sabbatical, during which he reportedly spent time reading and fly-fishing, Rupert returned as the Chairman of Compagnie Financiere Richemont, the sixth largest company on the Swiss stock exchange and the third largest luxury goods chain in the world.
Richemont also owns 20 premium brands including the very famous Cartier, Dunhill, Van Cleef & Arpels, Jaeger-LeCoultre, Montblanc, Chloe, and Piaget, among others.
He is also chairman and the largest shareholder of Remgro, an investment company with financial, mining and industrial interests. Both companies were founded by his father Anton Rupert, who grew a small garage-based cigarette manufacturing operation into major industrial and luxury goods concerns. It reported sales of €10.6 billion for the year ended March 2014 and an operating profit of €2.4 billion.
Rupert also owns two of South Africa’s best-known vineyards, Rupert & Rothschild and Anthonij Rupert Wines, which between them produce some of the country’s most acclaimed wines.
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